To promptly support people and enterprises to stabilize production and business activities, the General Department of Taxation has just sent an urgent dispatch to 26 tax departments of provinces and cities affected by storm No. 3.

Accordingly, the tax sector has exempted, reduced, extended taxes, and tax policies for taxpayers affected by natural disasters. At the same time, the tax authority also provides guidance on legal regulations on tax, fee, and charge exemptions, reductions, and extensions for households and individuals doing business affected by natural disasters.

Specifically, exemption of late payment fees and exemption and reduction of administrative fines for tax violations; extension of tax payment and tax declaration; Exemption and reduction policies for each tax such as: Personal income, corporate income, special consumption, value added tax deduction, resource tax, non-agricultural land use tax.

Accordingly, enterprises affected by natural disasters will be granted a 1 year - 2 year extension for tax payment (depending on each case of storm impact). Enterprises are allowed to deduct input value added tax on goods used for production and business. Enterprises affected by natural disasters are also entitled to a maximum reduction of 30% of special consumption tax in the year of damage.

Regarding resource tax, enterprises are exempted from and reduced tax for the amount of lost resources. If tax has been paid, it will be refunded or deducted from the tax payable in the following period. Enterprises are also entitled to a 50% reduction in non-agricultural land use tax if they suffer damage to land and houses.

For individuals and business households affected by natural disasters, personal income tax, special consumption tax and resource tax will be reduced. The personal income tax rate will be reduced in proportion to the level of damage, but not exceeding the amount of tax payable; special consumption tax will be reduced in proportion to the damage, but not exceeding 30% of the amount of tax payable.

By extending, exempting and reducing a series of taxes, the Tax sector has joined hands to promptly support businesses and taxpayers to quickly overcome the consequences of the storm, overcome difficulties, stabilize and develop production and business.